The country’s real estate sector had hopes riding high on this year’s budget. However, the measures taken by the finance minister have dampened their spirits. “There is very little in the budget this year for the real estate industry. Other than allowing for External Commercial Borrowing (ECB) in affordable housing, there is nothing that the budget has to offer for the sector,” said Ravindra Pai, MD, Century Real Estate.
While the main respite for the sector comes in the form of sops provided towards affordable projects, the industry was left wanting for more. By allowing ECB for low cost housing, availability of capital in the sector has eased...............................................Full Article: Source